The global Cancer Biomarker Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Cancer Biomarker Market is anticipated to reach USD 33.7 billion by 2025. Biomarkers imply the molecules or substances found in tissues, blood, or the other body fluid; which states the abnormal and normal condition of the body. The cancer biomarkers tests are conducted to detect mutated or normal genes responsible for cancer.
Key Players:
- Abbott Laboratories
- Hoffmann-La Roche Ltd
- Qiagen N.V
- Affymetrix Inc
- Illumina
- Agilent Technologies
- Merck & Co. Inc
- Hologic
- Sino Biological Inc.
- Thermo Fisher Scientific Inc.
- Becton, Dickinson and Company
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Growth Drivers:
The factors that propel the growth of the cancer biomarker industry include advancements in omics technologies, prevalence of cancer, growth in R&D funding from private bodies and government, rising healthcare spending, and increasing demand for personalized medicine in cancer treatments. On the other hand, there are factors that may hamper the growth of the market including reimbursement issues, need for immediate processing, and high cost of diagnosis. Cancer Biomarker Market is anticipated to grow at a significant CAGR of 14.3% in the upcoming period.
Type Outlook:
- Breast cancer
- Prostate cancer
- Colorectal cancer
- Cervical cancer
- Liver cancer
- Lung cancer
The “Breast Cancer” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 owing to growing consciousness about initial testing and rising base of target populace.
Key Application:
- Drug discovery and Development
- Diagnostics
- Personalized medicine
The “Diagnostics” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 due to growing development of biomarker-based oncology tests with high sensitivity and specificity.
Biomolecule Outlook:
- Genetic Biomarkers
- Epigenetic Biomarkers
- Metabolic Biomarkers
- Proteomic Biomarkers
The “Genetic biomarkers” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 due to high-reliability rate, and extensive usage.
Regional Outlook:
North America accounted for the major share of the cancer biomarker market size in 2016 and will continue to lead in the forecast period. The factors that could be ascribed to the growth include increasing demand for personalized medicine, growing government funding for development and discovery of biomarkers, growing use of biomarkers in Drug Discovery and growth by pharmaceutical industries in that country, and acceptance of innovative omics technologies for biomarker discovery.
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